New Independence, MN Cost of Living


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New Independence cost of living score
84.7
Less expensive
15.3% lower
than the US average
12.9% lower
than the Minnesota average
New Independence, Minnesota gets a BestPlaces Cost of Living score of 84.7, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 15.3% lower than the U.S. average and 12.9% higher than the average for Minnesota.

New Independence, MN

Housing costs in New Independence?
A typical home costs $281,500, which is 16.7% less expensive than the national average of $338,100 and 9.0% less expensive than the average Minnesota home, at $309,500. Renting a two-bedroom unit in New Independence costs $1,460 per month, which is 2.1% more than the national average of $1,430 and 15.1% more than the state average of $1,240.

Can I afford New Independence?
To live comfortably in New Independence, Minnesota, a minimum annual income of $54,000 for a family, and $45,200 for a single person is recommended.

What does A.I. say about New Independence?
The cost of living in New Independence, MN is quite reasonable. The median home value is around $216,500, the median rent is around $1,159, and the cost of groceries and other household items are comparable to the national average. Additionally, utilities like water and electricity are also fairly inexpensive with rates that are typically lower than other cities across the United States. With all these factors taken into account, it's easy to see why people choose to live in New Independence, MN - it's an affordable place to call home!
   Cost of living score
     CategoriesNew IndependenceMinnesotaUnited States
  84.797.2100.0
  99.897.2100
  86.378.3100.0
  61.4102.9100.0
  $281,500$309,500$338,100
  92.1%95.7%100.0%
  103.796.4100.0
  101.9117.4100.0

   100=National Average

   Average Rent by Bedroom Size
Crime
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